Question: A contingent loss should be reported in a disclosure note to the financial statements rather than being accrued if the: Multiple Choice incurrence of a

A contingent loss should be reported in a disclosure note to the financial statements rather than being accrued if the:
Multiple Choice
incurrence of a loss is more likely than not.
incurrence of a loss is reasonably possible.
likelihood of a loss is remote.
likelihood of a loss is probable.

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